More than $200billion was wiped off the crypto markets because of fears of the cryptocurrency trading ban in South Korea.

Bitcoin, ethereum and ripple have all recovered since the market collapse earlier in the week with Ripple surging in value by 20 percent on Friday to $1.55.

According to Coindesk, bitcoin was trading for $11,3339.55 at 10.44pm on Friday.

Ripple’s XRP currency was trading at about $0.006 per token at the start of 2017, before a remarkable 12 months saw the cryptocurrency surge to an all-time high of $3.84 on January 4 - an increase of nearly 64,000 percent.

Forecast form a panel of experts predict bitcoin will remain top dog, with a market cap of $597.95 billion, followed by Ripple at $460.00 billion.